Why GLP-1 Developer Vivani Medical's Stock Is Climbing
Portfolio Pulse from Erica Kollmann
Vivani Medical, Inc. (NASDAQ:VANI) shares are trading higher after the FDA cleared the Investigational New Drug application and lifted the clinical hold on NPM-119, allowing the initiation of the LIBERATE-1 Phase 1 clinical trial. This trial will assess the safety, tolerability, and pharmacokinetics of NPM-119, a six-month GLP-1 implant for type 2 diabetes. The stock saw heavy trading volume, with over 11.7 million shares traded compared to the 100-day average of less than 174,000 shares.
June 13, 2024 | 3:18 pm
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POSITIVE IMPACT
Vivani Medical's stock is climbing due to the FDA clearing the IND application and lifting the clinical hold on NPM-119, enabling the start of the LIBERATE-1 Phase 1 clinical trial. This significant milestone transitions Vivani to a clinical-stage company.
The FDA's clearance of the IND application and lifting of the clinical hold on NPM-119 is a significant milestone for Vivani Medical. This allows the company to initiate the LIBERATE-1 Phase 1 clinical trial, marking its transition to a clinical-stage company. The news has led to a substantial increase in trading volume and a rise in the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100